Di Yi Cai Jing·2026-01-13 10:17Core Insights - The real estate construction agency industry is experiencing significant growth, with over 100 companies targeting this sector, driven by the strong expansion intentions of leading firms [1] - The top 20 construction agency companies are expected to sign approximately 220 million square meters of new contracts in 2025, representing a year-on-year increase of 16%, which is 6 percentage points higher than in 2024 [1] - Major players like Jindi Management, Longfor Longzhizao, and New City Construction Management have seen their new contract areas increase by over 50% year-on-year [4] Group 1: Market Trends - The number of contracts awarded in the construction agency sector has been rising, with the third quarter of 2025 seeing 172 contracts awarded, reflecting a year-on-year increase of 37% and a quarter-on-quarter increase of 17% [2] - Ten companies are projected to add over 10 million square meters of construction agency scale in 2025, with the top five companies accounting for 45% of the new construction area [2] - The industry is shifting from scale expansion to value creation, requiring companies to enhance product quality, innovate services, and manage risks effectively during the industry reshuffle [2][3] Group 2: Company Performance - Jindi Management, Longfor Longzhizao, and New City Construction Management are gaining market attention, with their new signed construction areas being 15.31 million square meters, 13.87 million square meters, and 10.61 million square meters, respectively [4] - The sales scale for Longfor Longzhizao and Jindi Management reached 20.6 billion and 19.3 billion yuan, ranking them third and fourth in sales scale [4] - These companies are reducing their self-investment project scales significantly, with new value added being less than 9 billion yuan, compared to previous peaks of over 100 billion yuan [4] Group 3: Industry Dynamics - The construction agency sector is benefiting from government policies promoting affordable housing and urban village renovations, creating a demand for professional operators [5] - The light-asset model of construction agencies allows companies to focus on product quality and service while managing risks, aligning with current market demands [5] - The construction agency market is expected to grow at an annual rate of 21.3%, indicating significant potential compared to the 20%-30% penetration rates in mature markets like Europe and the U.S. [5] Group 4: New Opportunities - Local government investment entities hold many undeveloped land parcels, which are becoming key targets for construction agencies [6] - Non-real estate companies are increasingly willing to engage in construction agency projects, providing new growth opportunities for construction firms [6] - Some construction agencies are proactively engaging in the construction process to secure quality land reserves, representing a new expansion strategy [6]